Gold Intraday Signal: Consolidation with Bearish Bias Below 4146.00
Gold (XAU/USD) is showing signs of consolidation, trading under pressure below the critical resistance level at 4146.00. The metal has recently struggled to sustain gains above this pivot, indicating that sellers remain active near upper resistance zones.
The RSI is neutral to bearish, reflecting weakening bullish momentum, while price action continues to fluctuate between 4090.00 and 4146.00. As long as the metal stays capped under 4146.00, the outlook remains negative with potential for a decline toward 4090.00 and 4060.00 in the short term.
A clear break above 4146.00, however, would invalidate this view and could trigger a push toward 4179.00 and 4205.00, where stronger resistance awaits. Traders are advised to remain cautious as intraday moves may stay choppy and sentiment-driven.
Enter: Short below 4146.00
Stop-Loss (SL): 4179.00
Target A: 4090.00
Target B: 4060.00
